Adani Enterprises Ltd. needs as much as A$3 billion ($2.3 billion) in debt financing to help start producing Australian coal from one of the world’s largest mines, after major banks from Sydney to New York said they don’t want to lend to polluting fossil-fuel projects.

Indian conglomerate Adani Enterprises said on Tuesday it would “adjust” to any constraints placed on its A$16.5-billion ($12.4 billion) coal mine project in Australia after seeing a government loan vetoed by the Queensland state premier.

Indian conglomerate Adani Enterprises is in talks with China Machinery Engineering Corp (CMEC) for the financing of a controversial coal mine project in Australia, two sources with knowledge of the situation said on Thursday.

Large protests were held across Australia on Saturday against Indian mining giant Adani Enterprises’ proposed Carmichael coal mine, which would be the country’s largest coal mine but has been delayed for years over environmental and financing issues.

India’s Adani Enterprises said on Monday it will start work in October on its Carmichael coal project in Australia using A$400 million (S$430.7 million) of its own funds, even as it looks to lock in financing for the controversial mine.

Adani Enterprises has appointed corporate finance firm Grant Samuel to advise on funding for its multi-billion dollar coal mine in the Australian outback, two sources with knowledge of the matter said on Thursday.

Adani Enterprises, the flagship firm of Adani Group, today reported a 60 per cent jump in its consolidated net profit to Rs 221 crore for the fourth quarter ended March on the back of higher contribution from coal trading.